Clear the floating lower limit of multi-site mortgage interest rate

Less than a month after the personal housing loan interest rate was officially "anchored", all localities are gradually clarifying the lower limit of local mortgage interest rates. How does the buyer intend to "change the anchor" smoothly? How's the bank preparing? How will the mortgage interest rate change in the future?

Local governments have successively announced the lower limit of mortgage interest rates.

As the People's Bank of China announced that the loan market quotation (LPR) will become the main reference for banks to issue new loans, the pricing of individual housing loans will naturally change from the original benchmark loan interest rate to LPR. The central bank has made it clear that since June 8, 10, the new commercial personal housing loan interest rate has been formed by adding the LPR of the same period in the last month as the pricing benchmark.

The reporter learned from relevant departments that the current "anchor change" of mortgage interest rate is stable and orderly, and local and financial institutions are steadily promoting the clarification of LPR value and system upgrade. After the implementation of the new mortgage interest rate pricing policy, the real interest rate level will remain basically stable compared with before, ensuring a smooth transition before and after the "anchor reform".

In order to ensure the effective implementation of differentiated housing credit policy, different from ordinary new loan pricing, the interest rate of individual housing loans is limited by three factors, except LPR, the bottom line of central bank's mortgage interest rate, the lower limit of local LPR and the floating point of banks.

It is understood that at present, 13 market interest rate pricing self-regulatory organizations in provinces, autonomous regions and municipalities have determined the local lower limit of LPR, and the rest will be announced one after another before the end of the month.

It is understood that Beijing has made it clear that the interest rate of the first suite will rise by no less than 55 basis points on the basis of LPR, and the interest rate of the second suite will not be less than 105 basis points. According to the LPR of more than five years on August 20, the floating lower limit of personal mortgage in Beijing is 5.4%, and the floating lower limit of second suite is 5.9%.

An employee working in the mortgage department of a state-owned bank told reporters that before the reform, the first suite in Beijing rose by 10% on the basis of the benchmark interest rate of 4.9%, and the second suite rose by 20%. According to this calculation, after the implementation of the lower limit in Beijing, the mortgage interest rate level before the reform is generally consistent.

When the reporter visited many places, he learned that all local banks are adjusting interest rate fluctuations according to the lower limit of local mortgage interest rates, which has not changed much compared with the interest rate level before the reform, reflecting the policy of adapting to local conditions and cities.

After considering the lower limit of Jiangsu mortgage interest rate, the LPR of the first suite rose by 80 basis points, and the second suite rose by 105 basis points. Add at least 120 basis points for the first suite in Suzhou and 150 basis points for the second suite. "Before the reform, the benchmark interest rate of the first suite in Suzhou rose by 25%, and the second suite rose by 30%. After the implementation of the lower limit, it will not have much impact on the final interest rate. " A person from the Housing Finance Department of Suzhou Branch of the bank said.

"China Merchants Bank's mortgage interest rate in Shenzhen has been linked to LPR. The interest rates of the first suite and the second home loan were 30 basis points and 60 basis points higher than the LPR in the same period of last month. " A staff member of China Merchants Bank said.

It is worth noting that neither the bottom line required by the central bank nor the bottom line set by the local authorities is static. The reporter learned from relevant departments that in the future, the lower limit of individual housing loan interest rate will be adjusted according to the changes in supply and demand in the real estate market and the fluctuation of LPR.

Property buyers tend to be rational and do not apply for loans centrally.

The reporter visited a number of real estates in Beijing, Nanjing, Guangdong and other places, and did not find that a large number of buyers concentrated on buying houses or applying for loans before the implementation of the New Deal.

"I know that the mortgage interest rate may change after the eleventh, but from the information feedback from banks and intermediaries, it has little impact on the overall mortgage. I actually value housing prices more. " Mr. Hu, who is looking at the house near Nanjing Youth Olympic Park, told reporters.

The reporter learned from commercial banks in many places that many customers came to consult the mortgage interest rate recently, but there was no large-scale signing of loan contracts. "After the introduction of the new mortgage pricing policy, the mortgage increment has not changed much compared with the previous period. Whether buyers apply for mortgage loans is mainly affected by the situation of the houses they buy. " A staff member of China Merchants Bank Shenzhen Branch said.

At present, many cities have not yet defined the lower limit of local interest rates. The relevant person in charge of the Shanghai headquarters of the People's Bank of China said that the lower limit of local LPR in Shanghai has not yet been determined. The general tone is to ensure the smooth conversion of the interest rate pricing mechanism and keep the interest rate of individual housing loans in Shanghai basically stable under the principle of "implementing policies according to the city".

Shanghai is one of the cities with low mortgage interest rate in China. The reporter learned from the Shanghai branch of two state-owned banks that there are still buyers who enjoy a 15% discount on the interest rate of the first suite. Once the new regulations are implemented, the preferential interest rate for the first home loan will be difficult to achieve.

Mr. Ma, who is looking at the house, calculated an account for the reporter: a personal mortgage with a term of 20 years and an equal repayment method of principal and interest of 6,543.8+0,000 yuan will increase interest by 25,500 yuan compared with the previous benchmark interest rate of 5% according to the LPR of more than 5 years on August 20. "This has little effect. I will still decide whether to buy a house according to my actual needs. "

Li Wanfu, an analyst at Rong360 Big Data Research Institute, believes that users can still choose between the old and new contracts, and there is a psychological acceptance time. Considering the larger market expectation of LPR in the future, mortgage users will accept the new pricing model and contract signing. It will be smoother.

The bank is busy pushing for clarification of details.

The new personal housing loan interest rate policy 10 will be implemented on June 8. At present, banks are in full swing to promote the revision of loan contracts, system transformation and upgrading, and staff training.

"At present, we are studying the implementation rules such as the mortgage interest rate adjustment method and adding some values." Huang Yougang, deputy general manager of the Housing Finance and Personal Credit Department of China Construction Bank, said that CCB is stepping up the transformation of its business system and has instructed its branches to prepare for the conversion of LPR interest rates.

"ICBC is currently conducting system testing, and the system can be ready to support LPR pricing and mortgage selection in the middle and late September." Ren, Deputy General Manager of Personal Finance Department of Industrial and Commercial Bank of China, said that the pricing method has been added to ICBC's personal loan management, and the document will be distributed to the whole bank in the middle and late September.

Li Wanfu believes that testing the water during the transition period can help banks prepare for communication with users and market testing, and ensure a smooth transition of the mortgage market.

However, some bank grassroots staff said that the individual details of the implementation of mortgage interest rates during the current transition period still need to be refined. "It is unclear whether the implementation date of the new interest rate is based on the contract signed by the bank or the customer's purchase contract." A bank staff member said.